John Hayes, shadow housing minister, has outlined proposals from the Tory party to boost access to housing by boosting availability of mortgages to first time buyers.
However, the plans have been criticised for boosting demand for housing without addressing the serious problem of ongoing shortages of new properties outlined in the Barker Review published by the Treasury in April. That gap is identified as up to 140,000 houses per year, and the government has promised to review planning processes as one measure to speed up the building of new residential properties across the country. The Tories would instead like to see a joint-equity approach, involving borrowers buying part of a property and lenders acquiring the remainder. This approach was p...
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